Gilat Satellite Networks’ (GILT) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Gilat Satellite Networks (NASDAQ:GILT) in a research report released on Tuesday,Benzinga reports. Needham & Company LLC currently has a $20.00 price target on the communications equipment provider’s stock.

Other research analysts also recently issued research reports about the stock. Wall Street Zen downgraded shares of Gilat Satellite Networks from a “buy” rating to a “hold” rating in a research note on Friday, January 23rd. Freedom Capital lowered shares of Gilat Satellite Networks from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Gilat Satellite Networks in a research report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $20.00.

Gilat Satellite Networks Trading Down 3.3%

Gilat Satellite Networks stock opened at $13.25 on Tuesday. Gilat Satellite Networks has a 12 month low of $5.30 and a 12 month high of $20.38. The company has a market capitalization of $758.03 million, a price-to-earnings ratio of 40.15 and a beta of 0.82. The business’s fifty day simple moving average is $15.30 and its two-hundred day simple moving average is $12.75. The company has a current ratio of 1.84, a quick ratio of 1.45 and a debt-to-equity ratio of 0.14.

Gilat Satellite Networks (NASDAQ:GILT) last posted its quarterly earnings results on Tuesday, February 10th. The communications equipment provider reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.07. The firm had revenue of $136.96 million during the quarter, compared to analyst estimates of $133.56 million. Gilat Satellite Networks had a return on equity of 10.36% and a net margin of 4.59%. As a group, equities analysts predict that Gilat Satellite Networks will post 0.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Gilat Satellite Networks

A number of large investors have recently added to or reduced their stakes in GILT. Brooklyn Investment Group purchased a new stake in Gilat Satellite Networks during the 4th quarter valued at $263,000. New York State Common Retirement Fund boosted its stake in shares of Gilat Satellite Networks by 152.5% in the 4th quarter. New York State Common Retirement Fund now owns 29,654 shares of the communications equipment provider’s stock worth $384,000 after buying an additional 17,910 shares during the last quarter. Potomac Capital Management Inc. bought a new stake in shares of Gilat Satellite Networks in the fourth quarter worth $1,180,000. O Shaughnessy Asset Management LLC increased its position in Gilat Satellite Networks by 66.4% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 48,980 shares of the communications equipment provider’s stock valued at $634,000 after acquiring an additional 19,552 shares during the last quarter. Finally, State of Wyoming bought a new position in Gilat Satellite Networks in the fourth quarter valued at about $106,000. Institutional investors own 35.72% of the company’s stock.

About Gilat Satellite Networks

Gilat Satellite Networks is a leading provider of satellite-based broadband connectivity solutions, specializing in the design, development and deployment of ground segment equipment and network services. The company’s core offerings include Very Small Aperture Terminal (VSAT) modems and hub systems, network management software, and end-to-end satellite communication platforms. These technologies enable broadband Internet access, enterprise networking, and cellular backhaul in regions where terrestrial infrastructure is limited or non-existent.

Founded in 1987 and headquartered in Petah Tikva, Israel, Gilat has established a track record of innovation in satellite communications.